The New Straits Times

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from January 01, 2004
Last Document: January 30, 2015

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The New Straits Times, January 30, 2015


Pbksb Seals Rm1b O&G Pacts

KUALA LUMPUR: INTEGRATED supply base service provider Pangkalan Bekalan Kemaman Sdn Bhd (PBKSB) on Wednesday signed agreements worth RM1 billion with seven production sharing contractors (PSCs), including Petronas Carigali Sdn Bhd. The other six were Exxonmobil Exploration & Production Malaysia Inc, Talisman Malaysia Ltd, Lundin Malaysia B.V., Petrofac Energy Development Sdn Bhd, Petrofac (Malaysia PM304) Ltd and HESS Exploration & Production B.V.

Taking Luxury Living to New Heights

KUALA LUMPUR: BUKIT Jalil, a suburb about 20 km south of Kuala Lumpur, will have a new iconic residential haven that is set to propel luxury living to new heights. Aset Kayamas Sdn Bhd, a property developer owned by Sabah timber tycoon Tan Sri Chai Kin Kong, is known for its diverse development projects.

'Government Should Consider Revising Housing Policies'

KUALA LUMPUR: The government should consider revising its policies in order to meet the increase in demand for affordable housing. Rahim & Co group of companies executive chairman Tan Sri Abdul Rahim Abdul Rahman said the current 30 per cent threshold for lowcost houses in housing projects might no longer be relevant and should be reviewed.

Iron, Steel Players Call for Tariff Cuts

KUALA LUMPUR: DOMESTIC iron and steel players are urging the government to reduce electricity and natural gas tariffs by 20 per cent to enable them to remain competitive. Malaysian Iron and Steel Industry Federation (MISIF) president Datuk Soh Thian Lai said the industry needed the power tariffs to be competitive so as to better manage its production costs.

Tnb Likely to Stay Pat On Offer for Integrax

KUALA LUMPUR: TENAGA Nasional Bhd (TNB), which plans to buy the rest of the shares it does not own in port operator Integrax Bhd, is unlikely to revise its offer price of RM2.75 a share, say sources with knowledge on the matter. TNB, which owns 22 per cent of Integrax, also dismissed claims that Integrax has a potential value of RM5 a share, saying it was just "speculative".

`We Are a Resilient Market'

KUALA LUMPUR: BURSA Malaysia Bhd, which recorded a six-year high earnings of RM198.2 million in the financial year ended December 31 2014, is cautiously optimistic on its outlook this year amid the challenging global market conditions. Chief executive officer Datuk Tajuddin Atan said Malaysia had a proven track record for being a tenacious and resilient market, arising from the strength of investor protection and corporate governance framework built over the years.

Hibiscus Upbeat On E&P Segment

KUALA LUMPUR: Hibiscus Petroleum Bhd still sees opportunities in the oil exploration and production (E&P) segment despite falling crude oil prices. "If oil service companies give us good rates, there is an opportunity for E&P companies to do a little bit more work. We are in a position where we have some potential targets to explore and we would like to leverage on the opportunity (of good rates)," said managing director Kenneth Pereira after a presentation at the MIDF luncheon talk, here, ye...

Eti Tech Bags Rm65m Sabah Job

KUALA LUMPUR: Eti Tech Corp Bhd, in which Boustead Heavy Industries Corp Bhd chairman Tan Sri Lodin Wok Kamaruddin owns more than a four per cent stake, has won a RM65 million job in Sabah. The sub-contract is to design and construct up to 500 apartment units for the People's Housing Programme in Tawau.

Ambank Confirms Ramamurthy's Resignation

KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) yesterday confirmed that its group managing director, Ashok Ramamurthy, is stepping down. It said Ramamurthy's resignation was part of a planned transition that would see him holding a senior executive post at Australia and New Zealand Banking Group Ltd (ANZ).

Biotechcorp has Big Plans for Bioshoppe

KUALA LUMPUR: BIO-BASED industry developer Malaysian Biotechnology Corporation Sdn Bhd (Biotech-Corp) plans to go big with the retail presence of its in-house brand, BioShoppe, this year. The brand primarily features health and beauty products from its stable of BioNexus-status companies, which refers to a special status awarded to qualified international and Malaysian biotechnology companies.

Experts: Mh370 Compensation May Exceed Value of Aircraft

KUALA LUMPUR: Compensation for the missing Malaysia Airlines Bhd's (MAS) flight MH370, which was declared "lost in accident", could be higher than the estimated aircraft value of USD100 million (RM360 million), said industry experts. This is after taking into account other insurance coverage such as liability, travel personal accident, luggage lost and life insurance policies.

` Declaration of an Accident Will Not Impact Air Traffic'

KUALA LUMPUR: The government's declaration that Malaysia Airlines' (MAS) flight MH370 was an accident is not expected to have a significant impact on the passenger traffic to and from Malaysia, says an analyst. "The declaration should not impact our passenger traffic and the aviation industry much more than what we have already experienced, and after one year, the impact would be minimal," said the analyst with a local brokerage firm.

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